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DewDiligence

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DewDiligence

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Re: DewDiligence post# 178982

Monday, 06/09/2014 9:36:02 AM

Monday, June 09, 2014 9:36:02 AM

Post# of 252977
MRK-IDIX deal dispels two longstanding biotech canards:

Canard #1
Big Pharma won’t pay a large premium to the market
price of a small or medium-sized biotech company.

Fact: MRK is paying a 239% premium to
IDIX’s closing price on Friday (i.e. the
buyout price is 339% of Friday’s close).

Canard #2
News of a biotech buyout always leaks.

Fact: There was no leakage in this case.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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